Ohio’s Freddie Mac Suit Over Pension Losses Reinstated

A lawsuit the state of Ohio filed against Freddie Mac that accuses the lending giant of defrauding the state’s pension fund will resume after an appeals court this week reinstated the case. The Ohio Public Employees Retirement System invested in Freddie Mac and sued in 2008, saying its systematic investments in sub-prime home loans caused millions in losses for the pension fund. Though a district court previously dismissed the suit, the Sixth Circuit Court of Appeals this week found that Ohio had provided facts to support a plausible claim.